Chevron is one of the six “supermajor” oil companies in the world. Interestingly, the firm has also been involved in a large number of clean technology initiatives, and is now the world's largest producer of geothermal energy. (Please see the link below for info.)
We named company a Boardwalk Sustainability Leader in 2011, but not because they dabble in the latest green sectors, but because our research suggests that their environmental policies, safety practices, leadership structure are among the industry's best. These characteristics lead to long term business sustainability. We may applaud their community and philanthropic practices, and feel delighted by their green initiatives, but as investors we hold their feet to the fire, demanding continuous improvement, year after year.
We have seen that oil and gas drilling (especially in deep water) is high pressure, dangerous and dirty work. Chevron hasn't always been at the top of the class here. These days, however, the company can claim amazing progress -- reducing spill frequency and volume, improving worker safety, increasing its own energy efficiency while enacting a plan to that is reducing greenhouse gas and other emissions around the world. Yes, this is an oil company, and their processes and products have massive environmental impact. But thanks to interactions with shareholders and consumers, pressure to mitigate that impact has had positive results -- for the environment, for workers and for the company's share price.
Read more about Chevron's renewable energy initatives at CleanTechies.com
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